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failed states Compared by Economy > GDP > Official exchange rate

DEFINITION: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at offical exchange rates (OER) is the home-currency-denominated annual GDP figure divided by the bilateral average US exchange rate with that country in that year. The measure is simple to compute and gives a precise measure of the value of output. Many economists prefer this measure when gauging the economic power an economy maintains vis-a-vis its neighbors, judging that an exchange rate captures the purchasing power a nation enjoys in the international marketplace. Official exchange rates, however, can be artifically fixed and/or subject to manipulation - resulting in claims of the country having an under- or over-valued currency - and are not necessarily the equivalent of a market-determined exchange rate. Moreover, even if the official exchange rate is market-determined, market exchange rates are frequently established by a relatively small set of goods and services (the ones the country trades) and may not capture the value of the larger set of goods the country produces. Furthermore, OER-converted GDP is not well suited to comparing domestic GDP over time, since appreciation/depreciation from one year to the next will make the OER GDP value rise/fall regardless of whether home-currency-denominated GDP changed.

CONTENTS

# COUNTRY AMOUNT DATE GRAPH HISTORY
1 Nigeria $266.60 billion 2012
2 Pakistan $222.50 billion 2012
3 Iraq $209.60 billion 2012
4 Sudan $59.68 billion 2012
5 Yemen $34.90 billion 2012
6 Cote d'Ivoire $24.37 billion 2012
7 Afghanistan $20.02 billion 2012
8 Democratic Republic of the Congo $17.01 billion 2012
9 Chad $12.73 billion 2012
10 South Sudan $10.08 billion 2012
11 Zimbabwe $9.67 billion 2013
12 Haiti $7.79 billion 2012
13 Guinea $5.56 billion 2012
14 Somalia $2.37 billion 2010
15 Central African Republic $2.14 billion 2012
16 Guinea-Bissau $811.90 million 2012

Citation

"Countries Compared by Economy > GDP > Official exchange rate. International Statistics at NationMaster.com", CIA World Factbooks 18 December 2003 to 28 March 2011. Aggregates compiled by NationMaster. Retrieved from http://www.nationmaster.com/country-info/group-stats/failed-states/Economy/GDP/Official-exchange-rate

failed states Compared by Economy > GDP > Official exchange rate

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